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A German prosecutor investigation of Deutsche Bank is set to continue into a second day on Friday after a money-laundering raid on its Frankfurt headquarters.

In total more than 170 officials were involved in five separate raids at bank offices in Frankfurt and nearby Eschborn, as well as a private apartment. The most high-profile raid saw at least a dozen police vehicles pull up outside the main skyscraper in Germany’s financial capital, starting a steady share slide on Frankfurt’s Dax exchange.

Investigators said they had secured files in paper and electronic form in a raid linked to the the Panama Papers revelations of 2016 by the Consortium of Investigative Journalists, of which The Irish Times is a member.

‘Criminal activities’

In particular the local state prosecutor said the investigation was examining whether two – and possibly more – Deutsche Bank employees helped clients set up offshore accounts to “transfer